SCO Makes Q3 Loss, McBride Vows to Continue Fighting IBM and Others

By Linux News Desk	Article Rating:
September 1, 2004 12:00 AM EDT	Reads:	21,381

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"We remain steadfastly committed to enforcing our intellectual property rights on behalf of our customers, employees and shareholders," SCO CEO Darl McBride told reporters yesterday. "Through the combination of the quarter's positive developments and our current cash position, we are well-positioned to pursue our current litigation through its conclusion."

He was speaking to journalists after announcing a huge income drop in its Q3 results - compared to the same quarter last year.

Great interest was shown in McBride's revelation that SCO has traded straight fees with Boies, Schiller & Flexner for a greater share of the spoils if it should happen to succeed in its various legal suits - vs IBM, Novell, and Red Hat.

BSF will now receive a maximum of $31m in fees, plus up to 30% of any damages awarded to SCO.

McBride was bloodied but unbowed. "Several positive developments fell into place for us this quarter that strengthened the Company's overall position," he claimed.

"We successfully delivered on our strategy to restore profitability within our UNIX business which is generating positive cash flow," he explained. Then he continued:

"At the same time, we saw a nice uplift from SCOsource licensing revenue. In addition, we closed the BayStar transaction and as announced today, we implemented a Shareholder Rights Plan that will help protect the Company from any potential undervalued takeover attempt. Finally, we are pleased to have entered into a letter of intent with Boies, Schiller & Flexner that not only demonstrates their belief in SCO's legal case but will also provide SCO with greater financial flexibility. We remain steadfastly committed to enforcing our intellectual property rights on behalf of our customers, employees and shareholders. Through the combination of the quarter's positive developments and our current cash position, we are well-positioned to pursue our current litigation through its conclusion."